![]() “From a customer and partner perspective, the headline is: Don’t expect any big changes. We’ve been paying down debt aggressively, and this will accelerate all of that,” said Michael Dell. “It does simplify our ownership structure and capital structures that unlocks shareholder value and drives down our debt. No vote or action is required by Dell shareholders to receive the special stock dividend of shares of VMware common stock.įor the first time, Dell provided an expected spin-off completion date of Nov. ![]() Dell shareholders will receive approximately 0.44 shares of VMware for each share of Dell that they hold, based on shares outstanding Tuesday. Share distribution will be made to all Dell shareholders of record as of 5 p.m. The distribution of shares is intended to qualify as tax-free to Dell stockholders for U.S. The largest VMware shareholder will be Michael Dell himself, who will own approximately 41 percent of VMware following the transaction. “This absolutely creates additional growth opportunities for both Dell Technologies and for VMware and also unlocks a lot of value for stakeholders,” said Dell founder and CEO Michael Dell in a recent interview with CRN.ĭell Technologies’ board of directors Tuesday approved the distribution of a special stock dividend to Dell stockholders of all its shares of Class A and Class B common stock of VMware, one of the final hurdles that needed approval before Dell could spin off its 81 percent stake of VMware to current Dell shareholders. 1 for Dell Technologies to complete its spin-off of VMware following a highly successful five-year deep partnership between the infrastructure giant and virtualization superstar, which will make VMware an independent entity the first time since 2004.
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